In an initiative by Anil Agarwal-led firm Vedanta to build technological capabilities, Vedanta has decided to invest 100 Crore in Vedanta Spark. The partnership with the start-ups will be mutually beneficial for both, Vedanta and the platform they are partnering with. It will be a periodic program henceforth and will also expand internationally in the near future.
The initiative was organized as a corporate accelerator and innovation grand challenge. It saw the registration of over 1,350 participants from 19 countries with over 250 overseas start-ups. The winning 23 start-ups have been selected after a rigorous process of evaluation by industry experts. These are start-ups that have the potential of raising about $50 Million in the current financial year.
The winners will be offered various opportunities like collaborations, partnerships, funding, etc. along with other opportunities piloted by the Vedanta group. The start-ups will be able to scale up substantially and use Vedanta has a playground to test out their products.